Countries with the Most Millionaires

We all want to be rich but unfortunately accumulating wealth is more difficult than it looks like (unless you inherit a large sum of money without trying hard). There was a study conducted by Boston Consulting Group. The group revealed that more people will accumulate fortunes in 2015 because of the increasing gap of the rich and poor.

But it was the 24/7 Wall Street who identified the 2013’s top ten countries with the most millionaires. If you are curious what countries have the most millionaires, you should stick out for more. Here is the list of countries with the most millionaires (from number ten to number one respectively):

Hong Kong

In Hong Kong, there were 200,000 millionaire households. Although Hong Kong is not a country (because it is only the Special Administrative Region of China), Hong Kong has a large free market economy. It is also the home of Li Ka-shing, the 11^th richest man in the world according to Forbes.

France

In France, there were 210,000 millionaire households. France is home of France Telecom and Air France. In the past, millionaires (with assets of more than $1.1 million) are subjected to ISF or wealth tax but the President Nicolas Sarkozy is thinking about a reform.

Italy

In Italy, there were 270,000 millionaire households. Italy fell in the ranking because of the worsening of the international financial crisis. Their automobile and textile companies heavily suffered but despite the struggles, the country still stands because of the number of millionaires.

Taiwan

In Taiwan, there were 280,000 millionaire households. Taiwan continues to emerge in the market because of its banking and financial institutions. Taiwan is famous for the manufacturing sectors which  form the biggest part of their GDP growth.

Switzerland

In Switzerland, there were 330,000 millionaire households. The country boasts of its financial services. Big companies like the UBS, Nestle and Novartis are also present in the country. Many millionaires flee to Switzerland because they do not need to declare their assets but this was reversed.

Germany

In Germany, there were 400,000 millionaire households. You should know that Germany is the world’s 5^th largest economy. The country is the leader in chemicals, machinery and automobiles industry. Germany is proud of Deutsche Bank, BMW and Porsche.

United Kingdom

In United Kingdom, there were 570,000 millionaire households. The country is the leader in gas, coal and other oil resources. As if it is not enough, the country also offers services like insurance and banking. Wealthy people include Queen Elizabeth, Lakshmi Mittal and Richard Branson.

China

In China, there were 1,110,000 millionaire households. After its isolation, it woke up to be one of the biggest economies in the world. China’s industry are diverse from steel to gas and oil. The country is also the largest exporter in the world.

Japan

In Japan, there were 1,530,000 millionaire households. Industries in Japan include automobiles, consumer electronics, computers, steel and iron, petrochemicals and pharmaceuticals. The country is home to Song, Honda and Toyota among others.

United States

In United States, there were 5,220,000 millionaire households. This makes the country home to millions of millionaires. This is unquestionable considering that United States is the world’s largest economy.